Market Segment
Worldsteel: Global Output Slides in August
Written by Becca Moczygemba
September 25, 2023
Global steel production tapered off in August vs. July, according to the latest figures from the World Steel Association (worldsteel).
Globally, approximately 152.6 million metric tons of crude steel were produced in August. That’s a 3.7% decrease from the previous month, but a 2.2% increase from the same period one year ago.
The strongest production month so far this year was March when global steel production stood at 165.1 million metric tons, 7.6% higher than August.
China produced 86.4 million metric tons last month, down 4.8% from July but up 3.2% from a year earlier, and making up about 56.6% of global production.
Steel production in the rest of the world (RoW) fell 2.2% month over month (MoM) to 66.2 million metric tons in August, according to worldsteel data.
Regionally, output was higher YoY in Africa, which stood at 1.5 million metric tons (+16.1% ); Russia, Ukraine, and other CIS at 7.5 million metric tons (+10.7% ); and Asia and Oceania at 115.7 million metric tons (+3.5% ).
Regions seeing lower on-year production were the Middle East at 2.8 million metric tons (-16% ); South America at 3.4 million metric tons (-8.1% ); the EU at 9.1 million metric tons (-4.4% ); other Europe at 3.4 million metric tons (-3.2% ); and North America at 9.2 million metric tons (-2.6% ).
Becca Moczygemba
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